As the spring housing market heats up, you may have to act fast to get the home you want. But that doesn’t mean you should skip crucial home buying steps. Have a plan and stick to it to find the home you want.
- Be prepared. Choose a lender (we can help connect you! Click here) and decide the down payment amount. The lender will come back with the highest amount you can borrow and your interest rate.
- Shop within your means. By fixing the financial variables, you also fix your price range. While you may be tempted to look at fancier homes to see what they have, but that will only make you less happy with the homes in your range.
- Know the comparable sales. Understanding the values of past home sales will help you make a realistic offers, “low ball offers” likely will not land you in the home you want.Talk negotiating strategy with your agent ahead of time.
- Don’t skip inspections. You need not waive this contingency to be “the buyer” sellers want to work with. Get contingencies out of the way fast. We have inspectors who can get a report back to you in less than a week.
- Don’t pussyfoot around. If you’re financially ready to buy, waiting around won’t do you much good. Not only do you risk prices going higher, but interest rates as well. Once you find a home you love, you must put in an offer immediately. In the case of multiple bids, where homes are going for above the asking price, you might consider what’s called an “escalation clause” that automatically tops any other offers by $1,000.